HaiKhuu Daily Trading Report

Good morning,

Good luck trading, and

The updated $SPY daily levels are as follows:
Conversion Line Support: $510.91
Baseline Support: $508.07
Psychological Support: $500
Daily Cloud Support: $516.72

Thoughts & Comments from Last Week

Yesterday was a beautiful day for the markets as $SPY broke out and continued its bullish momentum. The trend was extremely strong, and I was honestly surprised to see the amount of strength and opportunity that was presented to us. We broke out of the daily cloud as the bullish TK-cross strengthened, providing us with a confirmation of a reversal. It is great to remain optimistic during this time and even better to be excited to see where the markets trend from here.

We started the day yesterday with $SPY trading at $517.34, up slightly from the previous close but not up enough to generate a significant amount of confidence. $SPY did drop early in the morning to make the official low of the day, trading at $516.71, before reversing and rallying throughout the rest of the day. $SPY quickly rallied throughout the rest of the morning and only started to stall out leading into the lunchtime lull, trading right above $519. Conditions were strong at that time, but momentum was extremely weak. The markets continued to hover at that $519 level, not displaying a significant amount of confidence at that time but providing us with an amazing opportunity to enter and simply ride the momentum.

The markets did start to pick up some traction after the lunchtime lull was over. There was a quick trend up to the $520 resistance level on $SPY, and we continued to inch closer and closer to $SPY $520, providing traders with an amazing opportunity to trade or simply hold positions with confidence.

Towards the end of the day during powerhour, we watched as $SPY broke above $520 for the first time in over a month, where $SPY rallied slightly into close, and we ended the day with $SPY trading at $520.17, up $3 for the day, or up roughly 0.6%, with an intraday bullish movement of roughly $3.

It was a beautiful day for the markets where $SPY broke above and held the $520 resistance level, providing traders with a significant amount of both comfort and confidence and allowing traders to trade with confidence or simply allocate long and ride the momentum. It was an amazing time to actively trade, providing traders with an amazing opportunity to generate both realized and unrealized gains. I hope that all of you were able to capitalize on the opportunities that were presented to us, and were able to realize a significant amount of gains in the process! It was an amazing day for the markets and the significance of the movement really positively impacted the general sentiment. Let’s see where the markets take us today and capitalize on the opportunities that are presented to us!

Thoughts & Comments for Today, 05/10/2024

Today, hopefully, is going to be an amazing day for the markets. With us within striking distance of a new all-time high and markets displaying a significant amount of confidence, I am expecting to see bullish momentum and great opportunities to realize a significant amount of gains. Please do not attempt to fight this trend and simply ride the momentum. This is the point now where you can start to let your guard down a little bit, as $SPY has continued to rally throughout the night, providing us with the comfort that we need to remain confident and has officially confirmed a reversal from the bottom.

The best way to honestly capitalize on these market conditions is by simply riding the momentum. As lame as that sounds, that is the best way to remain consistent, is by having solid exposure and riding the momentum. Yes, you can easily attempt to trade this momentum, and yes, that will be able to assist many traders in generating short-term realized gains, but consistency in the markets is what differentiates the good from the great. The short-term opportunities in the markets today and tomorrow will not outperform the long-term consistency of the markets. Look to still take advantage of both of these timeframes, as the best of traders are able to with ease, but it is just a matter of remaining consistent on a larger timeframe that will generate wealth.

I will continue to say this. These market conditions are extremely optimal for traders. Yes, for the previous couple of days, as we were hovering at the daily cloud resistance, that was not a fun time at all, as conditions remained relatively unchanged and extremely neutral, but trading in these current conditions is an amazing time as traders are able to realize gains extremely consistently. I would say riding the general momentum in the markets today will provide you with a better overall return, but if you see an opportunity to trade here in the short term, look to take advantage of that opportunity and realize some gains. Many traders are going to have an amazing time today, so do what you can to maximize the gains you are able to generate.

One thing I do want to warn you all about is practicing risk management. With the risks that are involved with actively trading in these market conditions, yes, you can put your guard down slightly, as market conditions are strong and confidence is coming back into the markets, but this is not the time to take on an irrational amount of risk. Look to make smart plays, realize gains consistently, and have a great time in the process!

For my allocations today, I do plan on remaining a little more passive in the markets, mostly as I do have a significant amount of allocations that I would like to watch play out. I will look to scalp when given an opportunity to do so, but I am more excited to watch as $SPY comes up to test a NEW all-time high. This will be a great time with many opportunities to trade, so if I see any opportunities, or if I decide to get into any other plays, I’ll announce what I see in the HaiKhuu Discord.

HaiKhuu Proprietary Algorithm Report:

My Personal Watchlist:

Note, just because something is on my watchlist does not mean it is a signal to buy or sell any equities

Watchlist:
$SPY, $AMZN, $AMD, $TSLA, $ULTA, $LULU, $NVDA, $AMD, $INTC

LONG OPPORTUNITIES:

Long-Term Dividend - $GAIN / $JEPI
Long-Term Investment - $BA
Confirmed Re-entry - $RIVN, $ULTA, $LULU

Economic News for 05/10/2024 (ET):

Fed's Bowman Speaks - 9:00 AM
Fed's Kashkari Speaks - 10:00 AM
Fed's Logan Speaks - 10:00 AM
UMich Inflation Expectations & Sentiment - 10:00 AM
Fed's Goolsbee Speaks - 12:45 PM
Fed's Barr Speaks - 1:30 PM
Federal Budget Balance - 2:00 PM

Notable Earnings for 05/10/2024

Pre-Market Earnings:

Enbridge (ENB)
DigitalOcean (DOCN)
Construction Partners (ROAD)
AMC Networks (AMCX)
CRH Public Ltd. (CRH)
Honda Motor (HMC)
NOW Inc (DNOW)
Algonquin Power & Utilities (AQN)
Calumet Specialty (CLMT)
Crescent Point Energy (CPG)

Wrap up

This is going to be another amazing day for the markets. Let’s do what we can to maximize the amount of realized gains we are able to generate today, and let’s watch as $SPY comes up to test the all-time high. I hope you all are as excited about these market conditions as I am and are ready for what is going to be an amazing day!!! Make sure to practice safe risk management and seize any opportunities presented to you!

Good luck trading, and let’s see a new ALL TIME HIGH ON $SPY!

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HaiKhuu Daily Report 05/10/2024